Hyderabad, Feb. 8 -- The Telangana High Court on Friday, February 7, reprimanded the Reserve Bank of India (RBI) for not filing a counter affidavit in the Margadarsi case. It set the next hearing for February 14.

The court stated the Supreme Court's order for hearing in this case at the earliest. Former MP Undavalli Arunkumar informed the court that despite an order issued in October 2024 to include his name in the cause list, the registry failed to implement it. Acknowledging the concern, the bench reiterated its directive to the registry to comply with the order.

Previously, the High Court had dismissed a complaint filed in the Nampally court seeking action against Margadarsi and its owner late Ramoji Rao, under the Depositors Protect...